HSBC defeats proposal to spin off bank's Asia ops
HSBC on Friday overwhelmingly defeated an activist proposal supported by its largest stakeholder, Chinese insurer Ping An, to spin off the bank's Asia business in a search of better returns. Of the shareholders who voted, more than 80 percent opposed the call to break up the Asia-focused bank, HSBC said in a statement. The vote took place during HSBC's annual general meeting in Birmingha